The new report by Expert Market Research titled, ‘Global Automotive Antifreeze Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive antifreeze market, assessing the market based on its segments like fluid type, technology, application, distribution channel and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.9%
The increased demand for high-performance automobiles is driving the automotive antifreeze industry. High-performance vehicle production has increased in recent years as a result of rapid technological advancements and growing living standards as a result of larger disposable incomes. Various motor racing competitions, such as Formula 1, are also helping to boost market demand for high-performance, heavy vehicles.
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Car coolants are essential for managing the excessive heat generated by a powerful engine at high speeds and maintaining the vehicle’s longevity. Additionally, as the chemical industry invests in research, automotive coolants are subject to significant technological advancements such as Organic Acid Technology (OAT), Hybrid Organic Acid Technology (HOAT), and Inorganic Acid Technology (IAT), which aid in the creation of silica and phosphate-free products, propelling the industry forward.
Industry Definition and Major Segments
Automotive antifreeze is a coloured liquid that is blended with water to assist maintain the vehicle’s temperature within a certain range. It is used to keep the engine running smoothly during severe weather and to prevent corrosion.
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On the basis of fluid type, the market can be divided into:
• Ethylene Glycol
• Propylene Glycol
Based on technology, the market can be segmented into:
• Inorganic Additive Technology (IAT)
• Organic Acid Technology (OAT)
• Hybrid Organic Acid Technology (HOAT)
Based on application, the market is bifurcated into:
• Passenger Vehicle
• Commercial Vehicle
• Construction Vehicle
The regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Low labor costs and simple availability of raw materials are driving demand for automotive antifreeze fluids. Many car manufacturers are generating strong demand for antifreeze fluids in order to provide high-quality services to potential clients. Increased health concerns as a result of the coronavirus pandemic epidemic have boosted demand for automobiles and, as a result, demand for automobile antifreeze.
Furthermore, as public awareness of climate change grows, the introduction of electronic vehicles in the next years is expected to drive demand for automotive antifreeze solutions. Because of the potential benefits of electronic car batteries, the ethylene glycol sector is predicted to grow. However, the chemical’s negative environmental effects may stifle market growth over the projection period.
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